East Asia Econ

East Asia Today

China's S&P services PMI was solid again in January, and Japan's was strong. High-frequency data for China suggest PPI was unchanged MoM in January for the seventh consecutive month. That stability reflects global factors, but also domestic policy, with the PBC last month again increasing liquidity.

Paul Cavey

Feb 4, 2026 • 2 min read

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Region – China and Korea chart packs

A chart pack summarising developments in China and Korea.

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East Asia Today

Japan's monetary base continues to shrink, though it is still at 90% of GDP. CPI inflation in Korea remains around the 2% target, and given the outlook for exports, is now unlikely to fall further.

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East Asia Today

Korea's January exports were boosted by workdays and chips. However, the rise in the manufacturing PMIs in Japan, Korea and Taiwan last month suggest some broadening of the cycle. China's PMIs were more mixed. They did show better nominal momentum, but that lift reflected global metals prices.